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Can you help me with the following Staistics problem? I am assuming b (level of significance) of 0.05 is correct. Rental Car Date: Cars data

Can you help me with the following Staistics problem? I am assuming b (level of significance) of 0.05 is correct.

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Rental Car Date: Cars data frame (showing only the first five observations) Unnamed: 0 mpg cyl disp hp drat qsec vs am gear carb 30 Maserati Bora 15.0 8 301.0 335 3.54 3.570 1 0 18 Honda CIVIC 30.4 4 5.7 52 1 93 1.615 18.52 1 2 15 Lincoln Continental 10.4 8 460.0 215 3.00 5.424 17.82 0 3 16 Chrysler Imperial 14.7 8 440.0 230 3.23 5.345 17.42 0 0 3 13 Merc 450SLC 15.2 8 275.8 180 3.07 3 3.780 18.00 0 0 3 3 MPG against Weight 35 30 25 MPG OC 15 10 . . 15 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 Weight (1000s lbs) MPG against Horsepower 25 25 MPC 20 . . 15 50 100 150 20 25 300 Horsepower mpg wt hp mpg 1.060000 -0. 869022 -0.778709 wt -0. 869022 1. 030000 0. 655075 hp -0. 778709 0.655075 1.000000 OLS Regression Results Dep. Variable: mpg R-squared: 0.832 Model : OLS Adj. R-squared: 0. 820 Method : Least Squares F-statistic: 66.87 Date : Tue, 04 Oct 2022 Prob (F-statistic): 3.47e-11 Time : 05:29:14 Log-Likelihood: -70. 077 No. Observations : 30 AIC: 146.2 Df Residuals : 27 BIC: 150.4 Of Model : Covariance Type: nonrobust oef std err P> t [0. 025 0.975 Intercept 37.5745 1.66 22.596 0.080 34.16 40.986 wt -3.9162 0.650 6.023 9.00 -5.250 -2. 582 hp -0. 0325 0.009 -3.514 0.002 0. 052 -0. 014 Omnibus : 3.946 Durbin-Watson: 1.927 Prob (Omnibus ) : 0. 139 Jarque-Bera (JB) : 2.898 Skew: 0.758 Prob(JB): 0.235 Kurtosis : 3.146 Cond. No. 592. Warnings : [1] Standard Errors assume that the covariance matrix of the errors is correctly specified. 1. Is at least one of the two variables (weight and horsepower) significant in the model? Run the overall F-test and provide your interpretation at 5% level of significance. a. Define the null and alternative hypothesis in mathematical terms and in words. b. Report the level of significance. = 0.05 c. Include the test statistic and the P-value. (Hint: F-Statistic and Prob (F-Statistic) in the output). d. Provide your conclusion and interpretation of the test. Should the null hypothesis be rejected? Why or why not

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